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<br />Loan No: 807172
<br />
<br />DEED OF TRUST
<br />(Continued)
<br />
<br />200700561
<br />
<br />Page 6
<br />
<br />references to Trustor shall mean each and every Trustor, and 1111 references to Borrower shall mean each and every Borrower. This
<br />means that each Trustor signing below is responsible for all obligations in this Deed of Trust.
<br />
<br />No Waiver by lender. Trustor understands lender will not give up any of lender's rights under this Deed of Trust unless Lender does
<br />so in writing. The fact thllt lender delays or omits to exercise any right will not mean that lender has given up that right. If lender
<br />does agree in writing to give up one of lender's rights, that does not mean Trustor will not have to comply with the other provisions
<br />of this Deed of Trust. Trustor also understands that if Lender does consent to a request, that does not mean that Trustor will not
<br />have to get Lender's consent again if the situation happens again. Trustor further understands that just because Lender consents to
<br />one or more of Trustor's requests, that does not mean Lender will be required to consent to any of Trustor's future requests. Trustor
<br />waives presentment, demand for payment, protest, and notice of dishonor.
<br />
<br />Severability. If a court finds that any provision of this Deed of Trust is not valid or should not be enforced, that fact by itself will not
<br />mean that the rest of this Deed of Trust will not be valid or enforced. Therefore, a court will enforce the rest of the provisions of this
<br />Deed of Trust even if a provision of this Deed of Trust may be found to be invalid or unenforceable,
<br />
<br />Successors and Assigns. Subject to any limitations stilted in Ihis Deed of Trust on transfer of Trustor's interest, this Deed of Trust
<br />shall be binding upon and inure to the benefit of the parties, their successors and Assigns, If ownership of the Property becomes
<br />vested in a person othfJr than Trustor, Lender, without notice to Trustor, mAY deal with Trustor's successors with reference to this
<br />Deed of Trust and the Indebtedness by WilY of forbearance or ex!fJm;ion without relellsing Trustor from the obligations of this Deed of
<br />Trust or liability under the Indebtedness.
<br />
<br />Time is of the Essence, Time is of the essence in the perforrnAnce of this Deed of Trust.
<br />
<br />Waive Jury, All parties to this Deed of Trust hereby waive the right to any jury trial in any action. proceeding, or counterclaim brought
<br />by any party against any other party.
<br />
<br />Waiver of Homestead Exemption. Trustor hereby releAses and waives all rights Ilnd benefits of the homestead exemption laws of the
<br />State of Nebraska as to all Indebtedness secured by this Deed of Trust.
<br />
<br />DEFINITIONS. The following words shall have the following meanings when used in this Dood of Trust:
<br />
<br />Beneficiary. The word "Beneficiary" means Equitable Bank, and its successors and assigns.
<br />
<br />Borrower. The word "Borrower" means BRYAN D BJORKMAN, JODIE K BJORKMAN, JOSEPH W MUDLOFF and SHIRLEE MUDLOFF
<br />and includes all co-signers and co-makers signing the Note and all their successors and assigns,
<br />
<br />Deed of Trust, The words "Deed of Trust" mean this Deed of Trust among Trustor, Lender, and Trustee, and includes without
<br />limitation all assignment and security interest provisions relating to the Personal Property and Rents,
<br />
<br />Environmental laws, The words" Environmental Laws" mean Any and all state, federal and local statutes, regulations and ordinances
<br />relating to the protection of humAn health or the environment, including without limitation the Comprehensive Environmental
<br />Response, Compensation, and Liability Act of 1980, as amended, 42 U.S.C. Section 9601, et seq, ("CERCLA"), the Superfund
<br />Amendments and Reauthorization Act of 1986, Pub. L. No. 99-499 (" SARA"), the Hazardous Materials Transportation Act, 49 U.S.C.
<br />Section 1801, et seq" the Resource Conservation And Recovery Act, 42 U,S,C, Section 6901, et seq., or other applicable state or
<br />federal laws, rules, or regulations adopted pursuant thereto.
<br />
<br />Event of Default. The words "Event of Default" mean any of the events of default set forth in this Deed of Trust in the events of
<br />default section of this Deed of Trust.
<br />
<br />Existing Indebtedness. The words "Existing Indebtedness" meAn tho indebtedness described in the Existing Liens provision of this
<br />Deed of Trust,
<br />
<br />Guaranty. The word "Guaranty" means the gUArAnty from gUArAntor, endorser, surety, or accommodation party to Lender, including
<br />without limitation a guaranty of all or part of the Note.
<br />
<br />Hazardous Substances, The words "Hazardous Substances" mean materials that, because of their quantity, concentration or
<br />physical, chemical or infectious characteristics, mAY caUSl1 or pose a prosent or potential hazard to human health or the environment
<br />when improperly used, treated, stored, disposed of, generated, manufactured, transported or otherwise handled, The words
<br />"HAzardous Substances" aro used in their very broadest sense and include without limitation any and all hazardous or toxic
<br />substances, materials or waste as defined by or lisl.fHi under the Environmental Laws. The term "Hazardous Substances" also
<br />includes, without limitation, petroleum and pl1troleum by products or Any frAction thereof and asbestos,
<br />
<br />Improvements, The word" Improvements" means all existin(J And future improvements, buildings, structures, mobile homes affixed on
<br />the Real Property, facilitil1s, additions, replacements and other construction on Ihe Rl1al Property,
<br />
<br />Indebtedness, The word "Indebtedness" meAns all principAl, interest, and other amounts, costs and expenses payable under the Note
<br />or Related Documents, together with All renewals of, extensions of, modifications of, consolidations of and substitutions for the Note
<br />or Related Documents and any Amounts expended or advanced by Lender to dischArge Trustor's obligations or expenses incurred by
<br />Trustee or Lender to enforce Trustor's obligations under this Deed of Trust, together with interest on such amounts as provided in this
<br />Deed of Trust.
<br />
<br />lender. The word "Lender" means EquitAble Bank, its successors and assigns. The words "successors or assigns" mean any person
<br />or company that acquires Any interest in the Note,
<br />
<br />Note. The word "Note" means the promissory note dated January 16, 2007, in the original principal amount of
<br />$46.037.35 from Borrower to Lender, together with all renewals of, extensions of, modifications of, refinancings of, consolidations
<br />of, and substitutions for the promissory note or agreement. The maturity date of this Deed of Trust is August 9, 2007.
<br />
<br />Personal Property. The words "Personal Property" ml1an all oquipment, fixtures, and other articles of personal property now or
<br />hereafter owned by Trustor, and now or hereafter Attached or affixed to the Real Property; together with all accessions, parts, and
<br />additions to, all replacements of, and all substitutions for, any of such property; and together with all proceeds (including without
<br />limitation all insurance proceeds and refunds of premiums) from any sale or other disposition of the Property,
<br />
<br />Property. The word "Property" means collectively the ReAl Property and the Personal Property.
<br />
<br />Real Property. The words "Real Property" mean the real property, interests and rights, as further doscribed in this Deed of Trust,
<br />
<br />Related Documents. The words "Related Documents" mOim all promissory notes, credit agreements, loan agreements, environmental
<br />agreements, guaranties, security agreements, mortgages, deeds of trust, security doeds, collateral mortgages, and all other
<br />instruments, agreements and docurnenls, whether now or hereafter existing, executed in connection with the Indebtedness,
<br />
<br />Rents, The word "Rents" means all present and future rents, revenues, income, issues, royalties, profits, and other benefits derived
<br />from the Property,
<br />
<br />Trustee. The word "Trustee" means Equitable Bank (GrAnd Island Region), whosl1 address is 113-115 N Locust St; PO Box 160,
<br />Grand Island, NE 68802-0160 and any substitute or successor trustees.
<br />
<br />Trustor. The word "Trustor" means JOSEPH W MUDLOFF and SHIRLEE MUDLOFF,
<br />
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